While newspapers headline larger scale corporate fraud like R. Allen Stanford, Madoff, Tyco, etc., fraud often occurs in small and medium-sized businesses like ours and our clients'. A common type of fraud is defalcation or misappropriation of assets. A defalcation can involve a misappropriation of cash, supplies, inventory or other business property.

Defalcation is most often committed by employees who have a close relationship with the owner/operator and wear multiple hats within the company or practice, i.e., accounts payable, payroll, accounts receivable and bookkeeper. Lack of segregation of duties, along with other inadequate internal controls, creates opportunities for fraud. In larger organizations, perpetrators tend to be the individuals with some degree of management authority: CFO, controller or accounts payable/receivable manager.

In each case, fraud requires access and knowledge. To counter internal fraud, management should be very familiar with all of the following: signs of potential fraud; considerations when responding to a fraud scheme; and how to investigate potential subjects of a misappropriation.

Marcum LLP's experience within the Healthcare industry covers the full continuum of care with a special focus within the post-acute care geriatric segments of the industry, hospitals and physician practices.

Nine top companies have signed on to date to sponsor the 2017 Marcum Women’s Forum in New York City, featuring Chelsea Clinton, Lisa Garcia, and Jeanne Rizzo. The October 27 event at the Convene Conference Center is presented by Marcum LLP, a national accounting and advisory firm.

Marcum LLP is one of the largest independent public accounting and advisory services firms in the nation, with offices in major
business markets throughout the U.S., as well as Grand Cayman, China and Ireland.